Craig Hallum Downgrades ACM Research (NASDAQ:ACMR) to Hold

ACM Research (NASDAQ:ACMR) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $18.00 price target on the specialty retailer’s stock, down from their prior price target of $30.00. Craig Hallum’s target price points to a potential upside of 20.89% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of ACM Research in a research note on Wednesday, August 7th. Roth Mkm lowered their price target on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

ACM Research Price Performance

Shares of NASDAQ:ACMR opened at $14.89 on Thursday. ACM Research has a 52 week low of $13.87 and a 52 week high of $34.40. The company has a 50-day moving average price of $18.97 and a 200 day moving average price of $19.86. The company has a market cap of $857.75 million, a P/E ratio of 11.28 and a beta of 1.48. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.28 by $0.35. The business had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Research analysts predict that ACM Research will post 1.12 earnings per share for the current year.

Insider Buying and Selling at ACM Research

In related news, Director Xiao Xing sold 8,304 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the transaction, the director now owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of ACM Research stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the sale, the insider now owns 2,428,906 shares of the company’s stock, valued at approximately $58,463,767.42. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,244,016 shares of company stock worth $26,939,953. 31.24% of the stock is owned by insiders.

Institutional Investors Weigh In On ACM Research

Several hedge funds have recently made changes to their positions in ACMR. Geode Capital Management LLC increased its stake in ACM Research by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock valued at $23,973,000 after purchasing an additional 26,620 shares during the last quarter. Millennium Management LLC increased its stake in shares of ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after acquiring an additional 683,361 shares during the last quarter. Portolan Capital Management LLC lifted its holdings in shares of ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock worth $18,705,000 after acquiring an additional 65,616 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of ACM Research by 9.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock worth $9,412,000 after acquiring an additional 34,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ACM Research by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock valued at $8,239,000 after purchasing an additional 13,879 shares during the period. Institutional investors and hedge funds own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.